Concessions growth for Vinci

By Chris Sleight04 March 2010

Vinci's revenues for 2009 were down -4,3% on the previous year at € 32,5 billion. The company's operating profit was -5,5% lower at € 3,19 billion.

The fall in both profits and revenues was due to a decline in Vinci's contracting business last year. These divisions saw revenues fall -5,7% to € 26,9 billion. Vinci also said that the profit margin for these activities fell from 4.8% to 4.5%.

In contrast, the company's revenues from operating concessions was up +2,4% to € 4,9 billion, and Vinci said these businesses exceeded their profit targets with a margin of 39,1%.

Last year saw Vinci cut back on the proportion of revenues it derives from its home market of France. At € 19,6 billion, this figure represented just over 60% of the total. In 2008 however, it derived more than 62% of its top-line sales at home.

Looking ahead, Vinci expects revenues to rise this year due to the acquisition of Cegelec and some 100 quarries from Anglo American, although it stressed both transactions are currently being reviewed by European competition authorities.

The company's order book at the end of December stood at € 24 billion, a +4% rise on the figure of € 23,2 billion from a year ago.

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